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Who will take on the market today? Bears or the Bulls?

Good Morning Everyone, After the clash between the Bears & Bulls yesterday, we need to wait and watch, who will take over the reins today.

Global Markets:

US markets were on consolidation mode too as the Asian markets after US markets hit record highs on Friday last week. European equity markets started Monday's session on a weak note, with the UK's FTSE benchmark edging 0.12 percent lower in the first half of the day.

The Dow Jones Industrial Average fell 107.91 points, or 0.31%, to 35,100.6, the S&P 500 lost 4.11 points, or 0.09%, to 4,432.41 and the Nasdaq Composite added 24.42 points, or 0.16%, to 14,860.18.

The Federal Reserve has given a hint that they may start hiking interest rates as the inflation is rising at a faster pace and hence some loss of confidence in the market could be seen..

Asian shares are trading mixed today with Nikkei up nearly 1 percent, Straits Times and Hang Seng up 0.5 percent each, while Kospi and Shanghai Composite are trading in the red.

Indian Market:

Trends on the SGX Nifty hint at a flat to the slightly positive opening of Nifty today. However, it would be interesting to see the FII & DII action today.

Billionaire investor Rakesh Jhunjhunwala is set to pick a significant strategic stake in top lighting solutions firm Syska LED.

It would be interesting to see how the market reacts to the first result announcement of Zomato after listing.

Chemplast Sanmar's initial public offer (IPO) to raise Rs 3,850 crore will open for subscription today. The IPO of Chennai-based specialty chemicals maker Chemplast Sanmar, which is a part of the Sanmar Holdings group, is a combination of a fresh issue and an offer for sale by promoters.

Results Today

Zomato, Coal India, Lupin, Power Grid Corporation of India, Aarti Surfactants, Ahluwalia Contracts (India), Aarey Drugs & Pharmaceuticals, Ashoka Buildcon, Balaji Telefilms, Mrs Bectors Food Specialities, Brookfield India Real Estate Trust REIT, Computer Age Management Services, Capacite Infraprojects, Century Plyboards, Chalet Hotels, Cochin Shipyard, Deepak Fertilisers, Eveready Industries, Galaxy Surfactants, Godrej Agrovet, Heranba Industries, Infibeam Avenues, IRB Infrastructure Developers, Jindal Steel & Power, Krishna Institute of Medical Sciences, Linde India, Manappuram Finance, Max Financial Services, Motherson Sumi Systems, Prestige Estates Projects, Pricol, Reliance Infrastructure, Sequent Scientific, Siemens, Spencers Retail, Trent, Tata Teleservices (Maharashtra), Whirlpool of India, and Wonderla Holidays will release quarterly earnings on August 10

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 211.91 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 716.15 crore in the Indian equity market on August 9

Stock Specific News:

Reliance Industries | The company’s subsidiary Reliance New Energy Solar Ltd (RNESL) along with strategic investors Paulson & Co. Inc. and Bill Gates, and a few other investors, has announced an investment of $144 million in Ambri Inc, a US-based energy storage company. RNESL will invest $50 million to acquire 42.3 million shares of preferred stock in Ambri.

Shree Cement | The company’s Q1FY22 standalone net profit rose 78.5 percent to Rs 661.6 crore from 370.8 crores, revenue increased 47.9 percent to Rs 3,449.5 crore from Rs 2,332.4 crore, YoY.

Indian Bank | The bank said that Non Performing Accounts of IL&FS Engineering & Construction Company and IL&FS Transportation Networks with a total outstanding balance of Rs 292 crore have been declared as fraud.

Indian Hotels | The company’s Q1FY22 consolidated net loss narrowed to Rs 301.58 crore from Rs 312.60 crore, YoY. Revenue jumped to Rs 370.30 crore from Rs 175.34 crore, YoY.

Gujarat State Petronet | The company’s Q1FY22 standalone net profit rose 13 percent to Rs 232 crore from Rs 206 crore and revenue increased 13 percent to Rs 527 crore from Rs 465 crore, QoQ. Transmission volumes rose to 36.79 mmscmd from 33.84 mmscmd, QoQ.

Motilal Oswal Financial Services | ICRA upgraded the credit rating on long-term debt instruments of subsidiary Motilal Oswal Home Finance to ‘AA-/Stable’ from ‘A+/Stable’.

Texmo Pipes and Products | The company has received orders from multiple contractors of HDPE Pipes worth Rs 121.59 crore to be executed within 6-7 months.

Tata Investment Corporation | The company’s consolidated profit in Q1FY22 jumped to Rs 53.89 crore from Rs 18.40 crore and revenue rose to Rs 61.90 crore from Rs 30.90 crore, YoY.

Timken India | The company reported a higher profit at Rs 56.72 crore in Q1FY22 against Rs 3.15 crore in Q1FY21. Revenue jumped to Rs 467.85 crore from Rs 160.23 crore, YoY.


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